Articles on: Payment & Billing

Migration - Adding a Bond Credit from a prior Software

This article will assist you with adding Bond Credits that have been paid in your prior Software.

Overview

When you migrate to Xap from a different software, a part of the onboarding process is that your balances are imported.

This is for your General Account Balances eg. Family GAP details.

Bond Credits can be either:

A Liability eg. Bond Credit is held separately and then either refunded to the Family when they leave OR transferred to pay out an outstanding Account Balance
A non-refundable credit that is added straight onto the Families Account Balance as a part of there first weeks fees.

In this example we are creating a refundable/transferable Liability Bond Credit.

If you would like to have your existing Bond Credits added into the system you will need to:

Create a Liability Transaction Type
Add in your existing Bond Credits into each Family

Note: We recommend running a Bond Payments report from your software prior to migrating.

Creating a Liability Transaction Type

To create the Liability Transaction type:

Select the Settings Screen
Select the Payment & Billing Settings icon

Select the Centre name

Note: In this example the configurations are set to Centre. If your configurations are set to Organisations, then you won't need to select each Centre.

Select Transaction Categories
Select the Green + Add button

Name - Add in the name eg. Bond Credit Software Balance Transfer
Ledger Account - Select Liability
Reference No. - Can be added for reporting purposes if required
Type - Select Credit (It will default to Credit)
Description - Add a description in for this Transaction type
Default Amount - This can be added if the amounts will be the same or the field can be left blank
Transactions with this category can be edited, reversed or deleted - Tick to allow corrections to be made
Assign this Transaction category to this centre(s) - Select the Centre or Centres this option will be available in
Select Save

Adding the Bond Credit

To Add in the Bond Credit:

Search on the Family - In this example we are using the Global Search
Select the Family name

Select the Payments & Billing Tab
Select the Bond Tab

Select the Green + Add button

Select Add Payment
Select the Payment Date - This can be the Sunday prior to your Go Live or you can backdate to the original payment date if required.
Select the Transaction Category eg. Bond Credit Software Balance Transfer
Add in the Bond Amount to be applied
Default description will display from the Transaction Type, however further details can be added if required
Select Save

The added Bond Credit will display as Below.

The Bond credit can then be managed as per a new Bond payment.

To assist you further with refunding Bonds see: How To Refund A Bond Or Pay Off Fees Using A Bond Amount.

Updated on: 28/02/2022

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